The Bank of England raised interest rates by a quarter of a percent to five per cent today, pushing up the cost of mortgages and credit card debts for millions of households. |
Monday, May 14, 2007
Bank of England raises interest rates (Daily Telegraph)
Mortgages plc appoints Gibbs (Mortgage Introducer)
Kirsteen is responsible for managing all aspects the lender's brand communications activity including advertising, marketing materials and events. Based in Glasgow, she reports to head of marketing, Julian Wells. |
Lender offers 'mad' mortgages that take 57 years to pay off (Evening Standard)
Britain's biggest mortage lenders are offering home loans which don't need to be paid off for almost 60 years. The "life-long mortgages" are aimed at first-time buyers who are struggling to get on the property ladder due to soaring house prices. |
Wisconsin will miss wave of refinancing (Wisconsin State Journal)
Some experts predict a wave of mortgage refinancing next year, especially in markets like California and Florida where soaring home prices forced many buyers into risky "pay- option" adjustable-rate mortgages (ARMs) or interest-only loans. |
Types of mortgages (Wisconsin State Journal)
Interest rate is locked for the life of the loan. If interest rates drop, the loan must be refinanced to take advantage of the savings. Interest rate can adjust up or down, based on the market. |
Lenders offer 40-year mortgages (Financial Times)
Almost a third of mortgage lenders will allow borrowers to take on mortgages that last 40 years or more, according to research. The study found Tesco Personal Finance offers mortgages with a maximum term of 52 years, while First Direct offers a maximum of 47 years. |
52-year mortgage is latest offer to beat house prices (Times Online)
What it would cost Homeowners will be paying off their mortgages long into retirement if they take up the latest offer designed to beat rising house prices - loans with a 52-year term.... |
My Annaly Capital Management Income Play With Options (SeekingAlpha via Yahoo! Financ
David Neubert submits: I did one of my favorite options plays on this mortgage bond company structured as a REIT. Annaly buys pools of mortgages and borrows short term to fund them. |
Lender offers 'mad' mortgages that take 60 years to pay off (Daily Mail)
Britain's biggest mortage lenders are offering home loans which don't need to be paid off for almost 60 years. The 'life-long mortgages' are aimed at first-time buyers who are struggling to get on the property ladder due to soaring house prices |
Lendia Hires New Fulfillment Director (Business Wire via Yahoo! Finance)
MARLBOROUGH, Mass.----Lendia, Inc., an outsource solutions provider to financial institutions that originate residential mortgages, recently added Corinne Smith as director of fulfillment operations. |
Two Firms Selected to Finance Affordable Housing in Ontario (Government of Canada New
Developers of affordable housing in Ontario will have access to lower-cost financing for construction and mortgages thanks to federal and provincial initiatives announced today. |
A&L to unleash re-launched range from tomorrow (Money Marketing Online)
Alliance & Leicester is amending its current range of specialist mortgages from tomorrow. Its new range will include a two-year fixed rate buy-to-let at 5.29 per cent and a base-rate tracker at 0.15 per cent above base. |
Economy tops agenda at PCDI meeting (Lamar Daily News)
Talk of recent foreclosures and reports of defaults on home mortgages topped discussion at the recent Prowers County Development Incorporated (PCDI) weekly round table meeting held on Wednesday. |
Canadians seen hungry for mortgages in '07-survey (Reuters via Yahoo! Canada News)
Canadians are expected to again borrow money at a "feverish pace" next year to pay mortgages fueled by rising house prices, a booming economy in Western Canada and a large supply of new homes, according to an industry report released on Wednesday. |
PBC, state foreclosures continue record pace (The Palm Beach Post)
Florida led the nation in foreclosure activity for the third quarter of this year as adjustable rate mortgages came home to roost, a RealtyTrac report shows. |
Economy tops agenda at PCDI meeting (Lamar Daily News)
Talk of recent foreclosures and reports of defaults on home mortgages topped discussion at the recent Prowers County Development Incorporated (PCDI) weekly round table meeting held on Wednesday. |
What to Know About a Reverse Mortgage (WLOX-TV Biloxi)
Reverse mortgages can be good tools to help retiring Americans' financial stability. But, as with any financial service, potential borrowers need to be careful with whom they do business and beware of scammers looking to take advantage of unsuspecting victims. |
Sheridan slams tax 'rip-off' (The Scotsman)
SOLIDARITY MSP Tommy Sheridan has launched a new bid to scrap the controversial scheme which allows MSPs to use taxpayers' money to help finance their mortgages. |
Caution in picking right loan (San Francisco Chronicle)
Challenging conventional wisdom, a Merrill Lynch economist says homeowners who opt for fixed-rate over adjustable-rate mortgages today might regret it. Sheryl King contends that borrowers tend to pile into fixed-rate mortgages at precisely the wrong... |
See a doctor to find headache's cause (Detroit News)
T raffic, mortgages, in-laws -- there's an opportunity for a headache almost every hour. You can't get away from them. So when headaches strike, you should reach for a bottle of pain reliever, right? |
Around the Markets: Lenders sneak into top picks (International Herald Tribune)
Shares of Asian lenders like ICICI Bank and Hang Seng Bank are expected to outperform the regional stocks as borrowing costs peak, spurring demand for homes and mortgages, according to Tim Rocks, a strategist at Macquarie Securities. |
Economy tops agenda at PCDI meeting (Lamar Daily News)
Talk of recent foreclosures and reports of defaults on home mortgages topped discussion at the recent Prowers County Development Incorporated (PCDI) weekly round table meeting held on Wednesday. |
What to Know About a Reverse Mortgage (KPLC)
Reverse mortgages can be good tools to help retiring Americans' financial stability. But, as with any financial service, potential borrowers need to be careful with whom they do business and beware of scammers looking to take advantage of unsuspecting victims. |
Associations trying to make all mortgage lenders subject to the same rules (San Diego
Nontraditional mortgage products, such as interest only and payment option adjustable-rate mortgages, are a driving force for homeownership in San Diego County and elsewhere statewide. However, choosing such products equates to increased financial risk, consumer responsibility and more opportunities for abusive lending practices. |
Higher Rates Spur 'Cash-Out' Refinancings (Builder Online)
Spurred by higher interest rates on their adjustable mortgages and home equity loans, many homeowners are refinancing their mortgages -- and taking out bigger loans in the process. |
Transcript (Australian Broadcasting Corporation)
With billions of dollars now available for mortgages and financial institutions eager to lend, incidents of mortgage fraud are becoming more common. |
Fed rate action will strongly impact home prices (Bankrate.com via Yahoo! Finance)
An unusual refinancing boom is likely in 2007 as hundreds of thousands of borrowers bail out of their adjustable-rate mortgages while the getting is good. |
Some ARM borrowers will refi in 2007 (Bankrate.com)
2007 will bring an unusual refinancing boom as hundreds of thousands of borrowers bail out of their adjustable-rate mortgages while the getting is good. |
Mike Pero Mortgages Announces Scholarship Winners (Scoop.co.nz)
A Wellington high school student has a $10,000 head start to his tertiary education after being named the overall winner of the 2007 Scholarship Programme, which is part of the Mike Pero Mortgages Foundation. |
Hong Kong End-Sep Negative-Equity Mortgages Down 2.7% On Year (Nasdaq)
HONG KONG -(Dow Jones)- The Hong Kong Monetary Authority said Monday the number of residential mortgages in negative equity in Hong Kong was down 2.7% at the end of September to 8,813 cases from 9,056 cases at the same time last year. |
Government is looking into reverse mortgages (Otago Daily Times)
Auckland: Fears that a new type of financial product could harm the interests of elderly people have prompted the Government to consider regulating the reverse mortgage sector. |
American Services Fund stocks up at Mobile Mini, Kohl's, Staples (Market Watch)
SAN FRANCISCO (MarketWatch) -- From morning lattes to mortgages to hotel rooms, Americans spend a lot of money on services. |
Reverse mortgages gain traction (Orange County Register)
O.C. is most popular spot for retirees' use of home-loan twist. Has the reverse mortgage finally come of age? These complex loans let seniors access some of the cash value of their homes without the burden of a monthly payment. |
Rates on 30-year mortgages take a dip (Mohave Valley News)
WASHINGTON (AP) - Rates on 30-year mortgages dropped this week to the lowest level in a month as financial markets viewed new evidence of a slowing economy as a sign that inflation will decline. |
Bob Bruss: Reverse mortgages are available everywhere, even small towns (San Antonio
Dear Bob: My parents are avid readers of your articles and have become quite the experts on reverse mortgages. |
MAIL BAG: Reverse mortgages available to seniors (Richmond Times-Dispatch)
Q: My parents are avid readers of your articles and have become quite the experts on reverse mortgages for senior citi- zens. But they live in a small town that has one bank, owned and run by an "old geezer" who has been there for 100 years. At least he seems that old. |
Hawaii mortgages drop to 5.75% (bizjournals.com via Yahoo! Finance)
Mortgage lenders cut their rates for 30-year home loans this week, and most of them cut a quarter-point rather than the usual eighth-point. |
Buyers Warned Over 'Hangover' Mortgages (Ananova)
Would-be homeowners have been warned not to be seduced by attractive headline rates that could see them having to cope with a heavy "hangover" mortgage. |
U.S. rates on 30-year mortgages drop to lowest level in a month (People's Daily)
Rates on 30-year mortgages in the United States fell this week to the lowest level in a month as new data showed the economy has been slowing down, mortgage giant Freddie Mac reported Thursday. |
Rates on 30-year mortgages dip (Minneapolis-St. Paul Star Tribune)
WASHINGTON Rates on 30-year mortgages dropped this week to the lowest level in a month as financial markets viewed new evidence of a slowing economy as a sign that inflation will decline. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages dropped to 6.31 percent this week. That was down from 6.40 percent last week and represented the lowest level since 30-year rates |
Rates on 30-year mortgages dip to lowest level in a month (The Canton Repository)
WASHINGTON (AP) - Rates on 30-year mortgages dropped this week to the lowest level in a month as financial markets viewed new evidence of a slowing economy as a sign that inflation will decline. Mortg... |
Mortgages Direct warns against rate rise (Mortgage Introducer)
As speculation mounts that the Bank of England's Monetary Policy Committee (MPC) will increase interest rates further in November to 5 per cent, Mortgages Direct's monthly survey reveals that the first-time buyer level has fallen to an annual low of 32 per cent in October from 25 per cent in September. |
30-year mortgages drop to 6.31% (Honolulu Advertiser)
WASHINGTON รข€" Rates on 30-year mortgages dropped this week to the lowest level in a month as financial markets viewed new evidence of a slowing economy as a sign that inflation will decline. |
Mortgages fuel surge in bonds (FT.com via Yahoo! News)
The European market for bonds backed by mortgages and other assets saw very strong issuance growth in the third quarter driven mainly by what continues to be a surprisingly strong year for residential mortgage- backed securities. |
Adjustable Rate Mortgages Bring Anxiety Over Interest Rates (Fox News)
Many homeowners who finance their homes with adjustable-rate mortgages keep a wary eye on interest rates, and worry about an increase that they can't afford. |
Buyers Warned Over 'Hangover' Mortgages (Sky News via Yahoo! UK & Ireland Finance)
Would-be homeowners have been warned not to be seduced by attractive headline rates that could see them having to cope with a heavy "hangover" mortgage. Hamptons Mortgages said that by not paying attention to the fine print, policyholders could get lumbered with extended early redemption penalties and a commitment to stay on poor rates for a fixed period. |
Watch out for jobs report; Zilloried
Whatever the number, don't focus on it. An unemployment rate below 5 percent is low. Nonfarm payrolls is the one to watch in regard to mortgage rates. |
Mortgage rates fall drastically
Mortgage rates plunged this week. The averaged 30-year fixed fell 15 basis points, to 6.31 percent. |
A plunge, a rise, followed by a trickle
The economic news hasn't been uniformly chilly all week, but the bond and mortgage markets acted like it has. |
Worker scarcity sends rates upward
Workers are scarce, so they're getting paid more. As you get paid more, prices rise. And so do interest rates, including those for mortgages. |
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